Digital Currency Group And Genesis Reach Restructuring Agreement With Creditors
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The plan would see the sale of Genesis alongside other measures in a deal reached with DCG and Gemini Trust Co. Genesis, a subsidiary of Digital Currency Group, has reached a restructuring agreement with key creditors according to statements by Cleary Gottlieb attorney Sean O’Neal, representing Genesis. It would see the sale of Genesis Global Trading, amongst other moves designed to “maximize the recoveries to the estate.” Also included in the deal will be restructurings of the debt that Digital Currency Group, who owns Genesis and its entities, owes to Genesis Holdco, which was one of the legal entities that
Troubled cryptocurrency company Digital Currency Group (DCG) is facing more legal issues as its subsidiary Genesis Capital got slapped with a new class action lawsuit. A group of Genesis creditors filed a securities class action (SCA) lawsuit against DCG and its founder and CEO Barry Silbert, alleging violations of the…
Cryptolending platform Genesis Global Capital, part of the Digital Currency Group (DCG), is preparing to file for bankruptcy. According to informed sources Bloombergthe firm will do so in the coming days. The management of the platform conducts confidential negotiations with various groups of creditors in the face of a liquidity…